Investment Centers of America Inc. Has $141,000 Stake in Spirit Realty Capital, Inc. (SRC)

Investment Centers of America Inc. increased its position in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 2.6% during the first quarter, Holdings Channel reports. The fund owned 13,850 shares of the real estate investment trust’s stock after buying an additional 350 shares during the period. Investment Centers of America Inc.’s holdings in Spirit Realty Capital were worth $141,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in SRC. Prudential Financial Inc. raised its position in Spirit Realty Capital by 3,886.7% in the first quarter. Prudential Financial Inc. now owns 7,934,149 shares of the real estate investment trust’s stock worth $80,373,000 after buying an additional 7,735,135 shares during the last quarter. Norges Bank bought a new position in Spirit Realty Capital during the fourth quarter worth $41,964,000. FMR LLC raised its position in Spirit Realty Capital by 14.9% in the fourth quarter. FMR LLC now owns 21,545,517 shares of the real estate investment trust’s stock worth $233,985,000 after buying an additional 2,798,832 shares during the last quarter. Weiss Multi Strategy Advisers LLC bought a new position in Spirit Realty Capital during the first quarter worth $25,325,000. Finally, KRV Capital LP bought a new position in Spirit Realty Capital during the first quarter worth $24,059,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

Shares of Spirit Realty Capital, Inc. (NYSE:SRC) traded down 2.89% during trading on Wednesday, hitting $7.40. The company had a trading volume of 11,227,351 shares. The stock’s 50-day moving average is $7.50 and its 200 day moving average is $9.76. The firm has a market capitalization of $3.58 billion, a P/E ratio of 41.11 and a beta of 0.54. Spirit Realty Capital, Inc. has a 52-week low of $6.64 and a 52-week high of $13.97.

Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.02. The firm had revenue of $163.19 million for the quarter, compared to analysts’ expectations of $169.84 million. Spirit Realty Capital had a return on equity of 2.10% and a net margin of 13.28%. Equities research analysts predict that Spirit Realty Capital, Inc. will post $0.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.72 annualized dividend and a yield of 9.45%. Spirit Realty Capital’s dividend payout ratio is currently 378.97%.

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SRC has been the subject of a number of recent research reports. J P Morgan Chase & Co lowered Spirit Realty Capital from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $13.00 to $9.00 in a research note on Thursday, May 4th. Capital One Financial Corporation lowered Spirit Realty Capital from an “equal weight” rating to an “underweight” rating in a research note on Thursday, May 4th. Ladenburg Thalmann Financial Services lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, May 4th. Deutsche Bank AG reiterated a “buy” rating and set a $10.00 price objective (down previously from $14.00) on shares of Spirit Realty Capital in a research note on Friday, May 5th. Finally, TheStreet lowered Spirit Realty Capital from a “b-” rating to a “c+” rating in a research note on Wednesday, March 15th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Spirit Realty Capital has a consensus rating of “Hold” and a consensus target price of $12.04.

In other news, EVP Boyd Messmann purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was purchased at an average cost of $7.19 per share, with a total value of $71,900.00. Following the completion of the acquisition, the executive vice president now directly owns 73,656 shares of the company’s stock, valued at approximately $529,586.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jackson Hsieh purchased 13,400 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were purchased at an average cost of $7.45 per share, with a total value of $99,830.00. Following the completion of the acquisition, the insider now directly owns 559,453 shares of the company’s stock, valued at $4,167,924.85. The disclosure for this purchase can be found here. Insiders have purchased 43,800 shares of company stock valued at $321,378 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Spirit Realty Capital Company Profile

Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company‚Äôs operations are carried out through Spirit Realty, L.P. (the Operating Partnership). The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SRC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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